Consider the scenario. Explain using written and graphical analysis 2. What will happen in the market for brewed coffee if the price of coffee beans increases
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Consider the scenario. Explain using written and graphical analysis
2. What will happen in the market for brewed coffee if the price of coffee beans
increases
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- Suppose, suddenly the supply of mutton decreases due to unknown goat diseases.What would happen to the market of salad items? Would this event affect chutneymarket? Because of this decreased supply of mutton what would happen to the market ofKachchi biryanis, Morog Polaw, and chicken biryanis? Explain (in details) with relevantdiagrams/graphsNeed help with this. Be specific please. Here is some help for the possible answers in the empty spots, remember you can only pick 1 from the suggested ones. Your task is to take this__________(Choose one from these: supply schedule, quantity of soda supplied, law of supply or supply curve) and construct a graphical representation of the data. In doing so, you determine that as the price of soda rises, the quantity of soda supplied increases. This confirms the___________(Choose one from these: supply curve, law of supply, quantity of soda supplied or supply schedule) .The figure depicts the market for gasoline. Suppose that consumers expect the price of gasoline to decrease in the future. What effect will this event have supply and demand in the gasoline market? Demonstrate your answer graphically Instructions: Use the tool provided 'New line' to draw either a new demand or supply curve that reflects the market effect of this event. Plot only the endpoints of the line.
- As an Economics student you have been analysing the price movements of differentproducts. You note the following two price relationships:a. When there is a drought the price of maize rises.b. When the price of potatoes increases, the price of bread also increases (bread is asubstitute for potatoes).Use demand and supply diagrams to explain these two relationships. Please note: Twodiagrams are required, one for maize and one for bread.Consider the scenario. Explain using written and graphical analysis What will happen in the market for lobster if the government rises the income taxand lobsters are a normal good?Suppose that a store decreases the price of laundry detergent from $4.10 to $3.50. As a result, quantity demanded increases from 210 to 230. 1. Using the mid-point approach, calculate the percentage change in price. by using mid point method.
- Forecast the demand for the rice for a country for the year 2019 on the basis of 7-year data given in table: Year 2012 2013 2014 2015 2016 2017 2018 Population (millions) 10 12 15 20 25 30 40 Rice consumed (million tonnes) 40 50 60 70 80 90 100A stadium can seat 60,000 people. Assume 35% of seats are not occupied (not for sale) because of Covid-19 and social distancing requirements. You are told that the current price of tickets is $70 and that the demand is linear and that the demand function (Qd) = 60,000 - 250P. examine the market for tickets for games at the stadium during these Covid times. You should Illustrate themarket for tickets using a demand and supply diagram. Show all your calculations and properly label the diagram. At $70 a ticket the cap on the number of seats available (because of Covid restrictions) is creating a shortage. How many people miss out on tickets when they are priced at $70 per ticket?explain in detail with the help of graph ? Does the sales tax affect the consumers with price increase ?
- The price of shampoo increased. Choose the correct colored graph for conditioner, a related product to shampoo. Options are white, orange, blue, and green.With help of a diagram, explain the impact of decrease in 1 product only. Please provide example (products etc as assumptions) to explain the impact.Suppose consumers believe that prices will be rising in the future. How will that affect demand for the product in the present? Can you show this graphically?
